Chief Financial Officer, UofM Alumni Association

University of Minnesota - Minneapolis, MN

Full-time - Senior

Minneapolis, MN

Educational Services

About the position

The Chief Financial Officer (CFO) of the University of Minnesota Alumni Association (UMAA) plays a pivotal role in shaping the financial strategy and governance of the organization. Reporting directly to the President and Chief Executive Officer, the CFO is a strategic thought leader responsible for managing the assets and finances of the UMAA to foster its entrepreneurial spirit. This senior-level position is integral to the UMAA leadership team, overseeing financial, human resources, and risk management functions while supervising the accounting manager. The appointment is a full-time, 12-month renewable position within the academic professional personnel series. In the realm of business strategy and governance, the CFO will manage UMAA's assets to ensure the organization is well-positioned for future growth. Collaborating closely with the CEO and the Vice President of Marketing and Business Development, the CFO will identify and implement strategies aimed at increasing revenue for the UMAA. A key responsibility will be to provide strategic financial leadership for the proposed alumni and friends housing project, advising the CEO and leadership team on the optimal use of resources to fulfill UMAA's mission. The CFO will also work in partnership with the UMAA Board of Directors, Executive Committee, and Finance and Audit Committees to support their financial oversight responsibilities. In terms of accounting and finance, the CFO will lead the design and execution of UMAA's financial activities, ensuring effective internal controls and adherence to financial policies. Responsibilities include preparing annual operating and capital budgets in consultation with the leadership team, directing the annual external audit and tax compliance engagements, managing the organization's cash flow, and monitoring the performance and management of invested funds. The CFO will review monthly financial performance with budget owners and the management team, assess variances from budgets, and revise forecasts as necessary. Additionally, the CFO will oversee the monthly closing process and the preparation of internal departmental reports and financial statements. The management and administration aspect of the role involves leading UMAA's HR operations in coordination with University Human Resources, overseeing the recruitment, hiring, onboarding, and departure processes for new employees, and engaging legal counsel as needed. The CFO will also manage UMAA's insurance needs and risk management, collaborating with other University departments to support UMAA's mission and achieve its goals.

Responsibilities

• Manage UMAA assets to position the organization for future growth.
• Identify and assist with strategies to grow revenue for the UMAA in collaboration with the CEO and VP of Marketing and Business Development.
• Provide strategic financial leadership on the proposed alumni and friends housing project.
• Advise the CEO and leadership team on optimal resource utilization to fulfill UMAA's mission.
• Support the UMAA Board of Directors, Executive Committee, and Finance and Audit Committees in their financial oversight responsibilities.
• Serve on the University Gateway Corporation Board of Directors as Secretary and as a member of the Finance Committee and Operations Committee.
• Build a high-performing team with a strong internal culture in partnership with the UMAA leadership team.
• Lead the design and execution of UMAA's financial activities.
• Build, monitor, and maintain effective internal controls and ensure adherence to financial policies.
• Prepare annual operating and capital budgets in consultation with the leadership team.
• Direct the annual external audit and tax compliance engagements.
• Manage the cash flow of the organization and monitor the performance of invested funds.
• Review monthly financial performance with budget owners and management team, assess variances from budgets, and revise forecasts.
• Oversee the monthly closing process and preparation of internal departmental reports and financial statements.
• Lead UMAA's HR operations, coordinating with University Human Resources.
• Oversee the recruiting, hiring, onboarding, and departures process for new employees.
• Engage legal counsel for the UMAA as necessary.
• Oversee UMAA's insurance needs and risk management.

Requirements

• Bachelor's degree in accounting or finance.
• Ten (10) years of experience as a professional accountant.

Nice-to-haves

• A creative, entrepreneurial mindset.
• Experience working in a higher education or non-profit setting.
• Advanced degree in a related field.
• Professional certification in a related field - CPA, CMA, CGMA, CFA, etc.
• Knowledge of nonprofit accounting principles and taxation.
• Ability to assess the adequacy of internal controls and develop controls to address deficiencies.
• Self-motivated, able to work independently and assume high-level responsibilities.
• Detail-oriented and organized, able to handle multiple tasks and deadlines.
• Ability to communicate financial information to non-financial staff.
• Understanding of human resources operations.
• Knowledge of organizational risk assessment and insurance coverage.

Benefits

• Competitive wages, paid holidays, and generous time off.
• Continuous learning opportunities through professional training and degree-seeking programs supported by the Regents Tuition Benefit Program.
• Low-cost medical, dental, and pharmacy plans.
• Healthcare and dependent care flexible spending accounts.
• University HSA contributions.
• Disability and employer-paid life insurance.
• Employee wellbeing program.
• Excellent retirement plans with employer contribution.
• Public Service Loan Forgiveness (PSLF) opportunity.
• Financial counseling services.
• Employee Assistance Program with eight sessions of counseling at no cost.
• Employee Transit Pass with free or reduced rates in the Twin Cities metro area.